South
Korea, Nigeria sign accords on oil, energy
AFP
ABUJA
Petroleumworld.com
03 10 06
outh Korea and Nigeria on Thursday signed three accords for oil,
energy and transport cooperation on the first day of the official
visit of President Roh Moo-Hyun to the west African nation.
Besides a production sharing contract (PSC) between the state-run
Nigerian National Petroleum and Korea National Oil Corporations,
officials also signed two memoranda of understanding covering
energy, mineral resources and transportation.
No details were given.
Nigerian President Olusegun Obasanjo hailed the agreements as
"the beginning of the real strategic relationship between
our two countries," adding he hoped it "will continue
to grow from strength to strength."
"This is a very productive beginning, and the South Korean
government will see to the faithful implementation of these agreements,"
said Roh, who flew into Abuja from Egypt earlier in the day.
Roh's trip to oil-rich Nigeria is part of a three-nation Africa
tour aimed at boosting economic and diplomatic relations, officials
said.
His three-day visit comes as South Korean firms are eyeing potentially
lucrative Nigerian oil exploration contracts, and Nigeria is seeking
Korean investment and expertise to boost electric power generation.
Roh's African tour is the first trip by any South Korean head
of state to the region since 1982, when then-president Chun Doo-Hwan
visited Nigeria, Gabon, Senegal and Kenya.
The other countries on Roh's African agenda are Egypt and Algeria.
Roh announced a Korean-African forum in December, and said Korea
planned to invite 1,000 students from Africa in 2007 for educational
training. Seoul also intended "to send IT experts to Africa
to impart their knowledge in Africa," he added.
The volume of trade between the two countries in 2005 stood at
about 1.2 billion dollars, Roh said, thanking Nigeria for giving
Korean countries the opportunity to do business in the west African
country.
Seoul Foreign Minister Ban Ki-Moon, who declared his candidacy
last month to replace Kofi Annan as UN secretary general, is also
travelling with Roh.
South Korea is seeking support from African countries for Ban's
candidacy.
Annan's second five-year term ends on December 31.
Roh is scheduled to leave Nigeria Saturday morning for Algeria.
AFP
03 09 06
Copyright
© 2006 AFP. All rights reserved.
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